NEW DELHI, Nov 11: Great Eastern Shipping Company (GESC) today said it has raised Rs 400 crore through issuance of non-convertible debentures by way of private placement.
“The Debenture Issue Committee has, at its meeting held November 11, 2016, allotted 8.24 per cent 4,000 unsecured non-convertible debentures of face value of Rs 10 lakhs each aggregating to Rs 400 crore in two tranches of Rs 200 crore each,” Great Eastern Shipping Company said in a filing to BSE.
GESC has two main businesses — shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities.
The offshore business services the oil companies in carrying out offshore exploration and production activities through its subsidiary, Greatship (India) Ltd. (PTI)
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